Profil:
KGHM Polska Miedź SAKGHM copper recommends no dividend payment from 2024 profit
Listed copper and silver producer KGHM's management boards recommends the group's shareholders allocating the whole profit generated in 2024 in the amount of nearly PLN 2.8 billion (EUR 660.8 mln) to the reserve capital, KGHM said in a market filling. The board suggests that no dividend is paid from the last year's take.
"The management board of KGHM Polska Miedz S.A. announces that on May 15, 2025, it adopted a resolution in respect of which it will submit a proposal to the ordinary general meeting of KGHM Polska Miedz S.A. to adopt a resolution on the allocation of profit for 2024, in the amount of PLN 2,787,596,997.52, by transferring the entire amount of the profit to the company's reserve capital," KGHM wrote.
"In developing its recommendation, the management board of the company mainly took into consideration the assessment of financial needs of the KGHM Polska Miedz S.A. Group in the context of advancement of short and long-term investment plans," it added.
The management board proposal has been approved by KGHM's supervisory board.
In 2024, the group paid a dividend of PLN 1.5 (EUR 0.36) per share from its 2023 profit.
ao/ han/